BDO Dormant Savings Account
What is a dormant account?
When there has been no financial activity for a long period of time,
other than posting of interest, an account can be classified as dormant.
BDO charges a dormancy fee of P300.
Related: BDO Accepted Valid ID
Most Philippine banks charges a dormancy fee in an amount ranging
from P300 to P500 per month.
Dormancy fee is charged only if a dormant account's balance falls
below the required minimum monthly ADB. Account is tagged dormant if
there is no client-initiated transaction within 12 months for
checking accounts and within 24 months for savings accounts.
No transaction under the Manual of Regulations for Philippine
banks means savings account or checking accounts showing no
activity. No activity means no deposit or withdrawal.
Why do Philippine banks like BDO charges a dormancy fee?
Because the Bangko Sentral ng Pilipinas, which under the law regulates
the banking industry allowed the banks to do so.
The powers and function of Bangko Sentral are exercised by its
The Philippine Monetary Board allow banks to impose and collect
service charges and/or maintenance fees on savings and demand
deposit accounts, whether active or dormant, that fall below the
required minimum monthly average daily balance (ADB).
Note: The bank must inform the depositor at least sixty (60) days prior
to the imposition of dormancy fee. This should be done through
registered mail with return card on the depositors last known